Torrent Pharmaceuticals operates in the therapeutic areas of cardiovascular (CV), central nervous system (CNS), gastrointestinal, diabetology, anti-infective, anti-diabetics and pain management segments. The Company offers products in various categories, including tablets, capsule and parenteral. Its geographical segments include India and outside India. It manufactures various active pharmaceutical ingredients (APIs).
SHORT TERM PERSPECTIVE
|Company||Torrent Pharmaceuticals Ltd.|
|Recommendation||Accumulate (Rs. 2850- Rs.2860)|
|Stop Loss (SL)||Rs.2770|
|Target Price||Rs.2950- Rs.3050|
|Time Horizon||2-4 Weeks|
Intermediate and short term trend is up in this stock. The stock has given a breakout from a rectangle pattern. Moreover, the stock has also made an inverted head and shoulders pattern on the daily chart which is bullish in nature. Increase in volume and positive diversion from oscillator indicate that it can move higher from current levels so one can accumulate the stock between (Rs 2850-2860) With a stop loss of Rs. 2770 on closing basis and respected target seems Rs 2950-3050. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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